Translate the following sentences into English. 1) Их стремление к прибыли ведомо знаменитой «невидимой рукой» капитализма

1) Их стремление к прибыли ведомо знаменитой «невидимой рукой» капитализма.

2) Без капитала будет производиться гораздо меньше.

3) Грубо говоря, капиталист предоставляет капи­тал потому, что не потребляет.

4) Когда кредитно-сберегательный союз терпит крах, его инвесторы теряют свои деньги.

5) Некоторые виды дохода — это прибыль тех, кто берёт на себя риски.

6) Они стремятся на время отложить своё личное вознаграждение.

7) Некоторые виды инвестиций приносят прибыль и возвращают инвесторам то, что было инвести­ровано, плюс прибыль.

8) Люди хотят платить предпринимателю потому, что он или она изобрели «лучшую мышеловку».

9) Будучи проданными, эти будущие товары или услуги принесут прибыль, которая может быть использована для финансирования потребления или для дополнительного инвестирования.

10) В условиях рыночной экономики прибыль есть главная цель экономической активности.

III Translate the following dialogues from Russian into English:

Test Paper №1.

Variant 8.

I Read the following text and translate it in writing:

INVESTMENT

In the United States, investment accounts for about one-sixth of gross national product (GNP). Yet invest­ment occupies a much more important role in policy discussions than this share of production might sug­gest. The two main reasons for this are that invest­ment is volatile and, therefore, a cause of business fluctuations, and that investment contributes to eco­nomic growth.

Concern with these issues of business cycles and growth has led to very active tax policy toward invest­ment during the postwar years, as a succession of gov­ernments has tried to influence the level, pattern, and timing of investment spending. Such policies have been effective. At the same time many other, uncontrollable factors continue to influence investment.

Although in general the word investment may de­note many types of economic activity, economists usu­ally use the term to describe the purchase of durable goods by households, businesses, and governments. Private investment is commonly divided into three broad categories: residential investment, which ac­counts for about a quarter of all private investment (in the USA 25.7 percent in 1990); nonresidential, or business, fixed investment, which accounts for most of the remainder; and inventory investment, which is small but volatile. Business fixed investment, in turn, is composed of equipment and nonresidential structures. Equipment now makes up over three-quarters of busi­ness investment.

Investment helps increase productivity by raising the level of capital per worker and, perhaps, hastening the adoption of new technologies.

One more reason for so much interest in investment behaviour is its apparent role in influencing business cycles. Investment is a volatile component of GNP, fall­ing sharply during recessions and rising just as sharply during booms. As the economy went into a deep reces­sion in the early eighties, for example, real GNP in the USA fell 3 percent between 1981 and 1982, but invest­ment fell in real terms by 18 percent. In the following year, as the expansion began, GNP rose 4 percent while investment rose 13 percent.

Why is investment so volatile? The key lies in the nature of the investment process. Investment deci­sions often require long lead times, and their conse­quences are as durable as the investment goods them­selves.

While fluctuations in output exert a strong influence on investment behaviour, the costs of investing mat­ter, too. These costs include the prices of capital goods themselves, as well as interest rates, required returns to equity owners, and the taxes that firms must pay on the profits that the investments generate.

II Do the following tasks to the text given up: